A reduction in production costs will not result in which of the following?
A. rightward shift of the supply curve.
B. increase in supply.
C. greater willingness and ability of producers to supply a larger quantity at any given price.
D. greater willingness and ability of consumers to demand a larger quantity at any given price.
Answer: D
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During the 1980s, Harley-Davidson, the American motorcycle maker asked Congress for tariff protection from large motorcycles imported from Japan
Harley-Davidson argued that their company needed protection so the company could reorganize and, after some time had passed, could become more competitive. Harley-Davidson's argument is similar to the ________ argument for protection. A) anti-dumping B) save domestic jobs C) infant-industry D) national security E) bring diversity and stability
The kind of assets banks can hold as reserves are also called the economy's
A) checkable deposits. B) money market funds. C) high-powered money. D) bankers' acceptances.
Three firms that are successful in colluding to raise their prices must
a. lose profits b. announce any price changes to the government c. restrict output d. increase advertising to earn a profit e. expand production
If the national debt is growing no faster than GDP,
a. the government will have to raise taxes b. the nation's standard of living will fall c. government investment spending will be negative d. the government can pay interest on the debt without having to raise taxes e. the government will be unable to pay interest on the debt